Is $CVX about to explode? 🔥 Here’s the best entry point now!
Quick Technical Analysis:
The price is trading strongly above the moving averages (MA5 and MA10), indicating the continuation of the upward momentum.
The RSI is at 79, indicating an overbought condition, but the price is still maintaining its peaks.
MACD is in a positive crossover and continuing to rise.
A clear break of the resistance area at 2.95, turning it into current support.
✅ Futures Trading Strategy (Long):
Entry Point: Between 2.96 – 2.98
Stop Loss: 2.86 (Below the last corrective candle)
First Target: 3.08
Second Target: 3.15
Risk to Reward Ratio: Approximately 1:2.5
Alerts:
If it breaks 2.86 with strong trading volumes, it is advised to exit immediately.
Do not enter the trade if the next candle opens below 2.94.
Question for Discussion:
Do you expect CVX to break the 3.20 barrier during the day? Or is a correction coming? 💬
Follow me for more futures opportunities and profitable instant strategies